It doesn’t really matter why you want to go into finance. If you’re seriously considering taking the leap, you already know you’ll need all the help you can get.
Fortunately, despite the industry’s famously competitive reputation, that help is forthcoming. Whether you’re eyeing a plum gig with a private equity firm, eager to make your name as a financial advisor for high-net-worth families, or looking to move markets as a quant, you can draw on the experience of countless individuals who’ve come before you.
Why wait? Here’s what you can do right now to prepare for your future career in finance.
- Pick Your Undergraduate Degree (If You Haven’t Already)
Surprisingly few high-flying finance professionals have undergraduate degrees in finance. Most, however, have undergraduate degrees (and, as we’ll see, a fair number have advanced degrees as well). So your first order of business is to complete your undergraduate studies if you haven’t already — which means going back to college (or enrolling in a higher ed program for the first time) if you’ve been out of the game for a while.
- Land At Least One Internship Before You Graduate
To give yourself an edge when you graduate, land an internship (or several) while you’re in school. This experience doesn’t have to be with the organization you hope to work for later on, or even involve the same subdiscipline you’re most interested in. But it should be relevant to your hoped-for future career path, and your supervisor should be in a position to give you a positive reference.
- Level Up Your Credentials After Graduating
Finance pros’ professional development rarely ends after undergrad. Your chosen career path will determine which other credentials you choose to obtain: perhaps a broker-dealer license, or a financial planning certification, or a master’s in accounting if you’re a real glutton for punishment. If you’re not sure how to proceed, consult a guidance counselor, career coach, professor or boss.
- Consider Earning an MBA (While You Work If Necessary)
Regardless of which path they choose, many finance professionals find it worthwhile — and remunerative — to obtain a master’s of business administration at some point after completing their undergrad studies. Precisely when you do this is up to you, and could possibly be influenced by your employer’s needs and preferences, as it’s often the case that an MBA is necessary to progress into more senior roles.
- Build Your Network
Almost without exception, successful financial professionals are social creatures. They are not lone wolves. They understand the value of professional networking and of developing social support systems. And they’re good at both.
- Be Prepared to Work for It
It’s no secret that finance professionals work harder and for longer at a clip than most other folks. They’re compensated accordingly, but even so, this lifestyle is not for everyone. Be prepared from the get-go to work your tail off, and be mindful of your limits as you work toward your goals.
Get Ready to Make Your Mark
Finance careers are rewarding but intense. You’ll soon find yourself in competition with some of the brightest minds around. You’ll rub shoulders with ambitious, driven people who — like you — are eager to make their mark on the finance industry and the wider world.
You might decide that a career in finance is not, after all, right for you. If so, don’t think of it as a failure, but rather a life-changing lesson to take into the future. Other opportunities await if you’re willing to keep an open mind and open eyes.
